BAKU, Azerbaijan, August 12. Latvia has
reaffirmed its commitment to deepening economic cooperation with
Israel, focutilizing on innovation-driven sectors such as defence
technologies, green energy, and precision medicine, Head of
Investment and Development Agency of Latvia’s (LIAA) representative
office in Israel Irina Rubinchik notified Trfinish .
According to Rubinchik, the Latvia–Israel Business Forum,
organised in cooperation with the Israel Export Institute, aimed to
strengthen bilateral economic relations, promote joint projects in
high-tech industries, and position Latvia as a strategic enattempt
point for Israeli companies into the EU market.
“The forum successfully facilitated direct contacts between
Latvian and Israeli businesses, resulting in several cooperation
memorandums, and generated concrete leads in sectors including
photonics, precision medicine, green ammonia production, and
semiconductor technologies,” she stated.
A memorandum signed with the Israel Export Institute focapplys on
promoting trade and investment, organising B2B matchbuilding, and
fostering cooperation in defence tech, renewable energy, and
advanced manufacturing. Other agreements with Israeli business
associations and technology clusters tarobtain knowledge transfer,
joint product development, and rapider commercialisation of research
results.
Rubinchik also noted that Latvia offers a comprehensive support
package for Israeli startups and investors, including rapid-track
company registration, tax incentives under Latvia’s Startup Law,
and assistance with employee relocation. Israeli companies are also
encouraged to apply Latvia as a base for EU market tfinishers, R&D
facilities, and“testbed” environments for innovative
technologies.
Priority sectors for future Latvian–Israeli cooperation include
photonics, semiconductors, unmanned aerial systems, counter-drone
solutions, hydrogen and green ammonia production, AI-based
healthcare, and sustainable agri-tech solutions.
“These areas combine Latvia’s EU market advantages with Israel’s
innovation capacity, creating significant potential for mutually
beneficial projects,” she concluded.
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